BAML Technical Analysis Is Looking For Stocks to Move Into New Highs

BAML technical analysis is rather bullish on a seasonal and statistical basis. After breaking into new highs intraday Friday, the S&P 500 ended lower by nearly 23 points heading into the close and shorter-term mean reversion signals have not fired but are looking as though they could. In this environment a Bank of America Merrill Lynch report notes that if stocks were to break into new highs, it would be a bullish signal.

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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